Commerzbank economists note Thailand’s September CPI rose 2.8% year-on-year, below consensus but the highest since April, bringing headline inflation close to the upper end of the Bank of Thailand’s target range. They expect headline inflation to rise further on persistent supply-side pressures, yet see demand-side forces as benign. USD/THB fell to 33.62, though downside risks to the Baht remain elevated.
West Texas Intermediate (WTI) Oil trades lower on Wednesday, giving up earlier gains as a stronger US Dollar and recovering Middle East exports offset support from an unexpected decline in US crude inventories.
The Pound Sterling dives over 0.48% against the US Dollar as US Treasury yields hit a 24-year high, boosting the Greenback’s appeal, while traders await the release of the Federal Reserve’s last meeting minutes. The GBP/USD trades at 1.3210 after peaking near 1.3276.